Systemic Financial Crises : Resolving Large Bank Insolvencies

by Evanoff, Douglas Darrell; Kaufman, George G.

• ISBN13: 9789812563484
• ISBN10: 9812563482
• Format: Hardcover
• Copyright: 2005-06-01
• Publisher: World Scientific Pub Co Inc

Table of Contents

Acknowledgments	v
Preface	vii
KEYNOTE ADDRESSES
Being a Responsible Host: Supervising Foreign-Owned Banks	3	(14)
Alan Bollard
Dealing with Stress at Large and Complex Financial Institutions	17	(12)
Andrew Crockett
Changes in the Structure of the U.S. Financial System and Implications for Systemic Risk	29	(12)
Timothy F. Geithner
FINANCIAL STABILITY --- PROTECTING SOLVENCY
The Resolution of Systemic Banking System Crises	41	(18)
Stefan Ingves
David S. Hoelscher
The Deposit Insurer's Role in Maintaining Financial Stability	59	(10)
Jean Pierre Sabourin
The IMF--World Bank Financial Sector Assessment Program: A View from the Inside	69	(14)
Paul Kupiec
Financial Stability and Bank Solvency	83	(32)
Andrew G. Haldane
Glenn Hoggarth
Victoria Saporta
Peter Sinclair
A Note on Financial Stability	115	(8)
Craig-H. Furfine
THE COST OF INEFFICIENT RESOLUTION OF LARGE FINANCIAL INSTITUTIONS
Impediments to Fair and Efficient Resolution of Large Banks and Banking Crises	123	(18)
Edward J. Kane
Dealing with Financial Fragility in Transition Economies	141	(18)
John P. Bonin
Paul Wachtel
The Resolution of Systemic Banking System Crises: The Way Forward	159	(10)
Stefan Ingves
David S. Hoelscher
Mistakes of Bank Crisis Response	169	(6)
Randall S. Kroszner
KEY POLICY CHALLENGES IN FINANCIAL RESOLUTION: CROSS-BORDER ISSUES
Breaking Up is Hard to Do: An Essay on Cross-Border Challenges in Resolving Financial Groups	175	(18)
Thomas C. Baxter, Jr.
Joseph H. Sommer
``Too Big to Save'' --- Toward a Functional Approach to Resolving Crises in Global Financial Institutions	193	(24)
Eva H. G. Hupkes
Europe's Universalist Approach to Cross-Border Bank Resolution Issues	217	(20)
Christos Hadjiemmanuil
Comments on Financial Institution Resolution: Cross-Border Issues	237	(16)
Chryssa Papathanassiou
KEY POLICY CHALLENGES IN FINANCIAL INSTITUTION RESOLUTION: ADDITIONAL COMPLEXITIES
Multiple Regulators and Resolutions	253	(22)
Charles A. E. Goodhart
The Role of the Safety Net in Resolving Large Financial Institutions	275	(32)
David G. Mayes
Comments on Key Policy Challenges in Financial Institution Resolution: Additional Complexities	307	(14)
Robert R. Bliss
LESSONS FROM CASE STUDIES OF LARGE INSOLVENCIES
BCCI & Barings: Bank Resolutions Complicated by Fraud and Global Corporate Structure	321	(26)
Richard J. Herring
Derivatives and Systemic Risk: What Role Can the Bankruptcy Code Play?	347	(18)
Franklin R. Edwards
Edward R. Morrison
Argentina and Uruguay in the 2000s: Two Contrasting Experiences of Banking Crisis Resolution	365	(26)
Liliana Rojas-Suarez
Comments on Lessons from Case Studies of Large Insolvencies	391	(6)
Paola Sapienza
PLANNING FOR EFFICIENT RESOLUTION --- WHERE TO FROM HERE?
The Reserve Bank of New Zealand's Creditor Recapitalization (BCR) Project: An Option for Resolving Large Banks?	397	(10)
Ian Harrison
Planning for Efficient Resolution	407	(8)
Nobuo Inaba
Resolving a Large Bank: The FDIC's Perspective	415	(6)
Arthur J. Murton
Arrangements for Financial Stability in OECD and EU countries	421	(20)
Sander Oosterloo
Jakob de Haan
Constructive Commitments: Communicating Plans to Impose Losses on Large Bank Creditors	441	(8)
Gary H. Stern
Ron J. Feldman
Agenda	449	(6)
Index	455